EconPapers    
Economics at your fingertips  
 

Are Commercial Fishers Risk-Lovers?

Håkan Eggert () and Peter Martinsson

Land Economics, 2004, vol. 80, issue 4

Abstract: Fishers are risk-averse according to most empirical studies, while expected-utility theory predicts risk neutrality even for sizable stakes. We test this prediction using data from a stated-choice experiment with Swedish commercial fishers. Our results show that only 48% of the fishers can be broadly characterized as risk-neutral, while 26% are modestly risk-averse, and 26% are strongly riskaverse. Fishers are more risk-neutral the higher the fraction of their household’s income comes from fishing. Sensitivity testing implies that modest stake decisions like a few days of fishing are not influenced by wealth level.

JEL-codes: D81 Q22 (search for similar items in EconPapers)
Date: 2004
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (8) Track citations by RSS feed

Downloads: (external link)
http://le.uwpress.org/cgi/reprint/80/4/550
A subscripton is required to access pdf files. Pay per article is available.

Related works:
Working Paper: Are Commercial Fishers Risk Lovers? (2003)
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:uwp:landec:v:80:y:2004:i:4:p550-560

Access Statistics for this article

More articles in Land Economics from University of Wisconsin Press
Bibliographic data for series maintained by ().

 
Page updated 2020-09-09
Handle: RePEc:uwp:landec:v:80:y:2004:i:4:p550-560